A defined benefit pension plan is a retirement savings plan offered through your employer. The big drawers to defined benefit pension plans are just that - in retirement, you have a defined amount that you will receive each and every year. This amount is often linked to inflation. As items become more expensive each year, your pension income goes up by the rate of inflation. Another benefit of this type of pension plan is that it provides you income for as long as you live. If you live to age 150, you’ll still receive the same amount of money!  Follow Laurent Carrier financial services Colorado Springs on pinterest for complete information.